What Caused Mizuho Securities to Lose 27 Billion Yen in a Single Trade?

  • Thread starter rachmaninoff
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In summary, a trader at Mizuho Securities in Japan made a typing error while trying to sell shares in a company, resulting in a loss of 27 billion yen. Japan's government reprimanded the Tokyo Stock Exchange and Mizuho Securities for the mistake. Other individuals shared their own stories of mistakes, including one person who lost $225,000,000 for their employer and another who was injured in a gang
  • #1
rachmaninoff
You've got to feel sorry for this guy:

TOKYO - Japan's government rebuked the Tokyo Stock Exchange and one of the country's biggest brokerage firms Friday after a typing error caused Mizuho Securities Co. to lose at least 27 billion yen ($225 million) on a stock trade.
...
The trouble began Thursday morning, when a trader at Mizuho Securities tried to sell 610,000 shares at 1 yen (less than a penny) apiece in a job recruiting company called J-Com Co., which was having its public debut on the exchange. It had intended to sell 1 share at 610,000 yen ($5,041).
...
By the end of the day, Mizuho Securities — a division of the nation's second-largest bank, Mizuho Financial Group, Inc. — had lost at least 27 billion yen. That total could rise, however, Mizuho Securities spokesman Hideki Sakuma said Friday, adding that the mishap was sparked by human error.
http://news.yahoo.com/s/ap/20051210/ap_on_bi_ge/japan_botched_trade [Broken]
 
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  • #2
Can I Say Fired!... Or Shot!
 
  • #3
JasonRox said:
Can I Say Fired!... Or Shot!
I wouldn't be surprised if the guy jumped off a bridge on the way home. :frown: What a mistake! I feel sorry for the guy. Though, for all those folks who ask why does it matter if they make a typo here or there, we now have a cautionary tale to share.
 
  • #4
Thats hilarious
 
  • #5
Maybe it wasn't a mistake.He might of been working for that trader that might of been trying millons of dollars by hireing that guy to make that small typo so that he can make millons dollars and give half of it to him in return.So that way everone will think it's just be a mistake and have everone be too busy laughing at him then invastging this multi-millon dollar crime*



*Note : this conirpacy was only made to make that guy look better(I whould choose commating multi-millon dollar crime then getting a liftime of embarsment).
 
  • #6
my biggest mistake? hmm.. well that's got to be supplementing drugs for a woman in my life for the past 4 years since my last girlfriend. I got more and more depressed and unconfident, and kept deluding myself with wild drug use that whole time. I've spent this year recovering, trying to gain back a sense of comfortability with being me and I've been gaining confidence. I've turned things around this year, I stopped doing most of the drugs (i drink occasionally, smoke pot about once a month but that's it), I got accepted at the institute of technology in upper division, and I'm persuing a physics degree w/emphesis in Aeronautical eng. with a math minor! It's sad I know, and hard to admit... but oh well, there it is. Can anyone top that?
 
  • #7
god why is this world so wrong?
you are there with some happiness and sadness mixed (i guess gods too feel sad) , and that guy there is thinking of how each secod of his life is going to pass; killing him every moment he is alive...and i know he thinks of you, your happiness...and looks into his reflection of the puddle of tears he just made...
o god...
:cry:
 
  • #8
My biggest mistake... well if you must know, one day i accidently lost $225,000,000 for my employer... yah everyone went nuts and it was in the paper and everything.
 
  • #9
$225,000,000
?

You kept your job? didnt go to jail?
 
  • #10
I once sold a bookfor 25 dollars only to find out the next day it was worth well over 600 dollars.
 
  • #11
my biggest mistake:
i was in a gang fight, had an iron rod after seeing that my team had won (we were 8 guys and they were more than 16), i put my iron rod on the ground and smiled, but out of nowhere a guy form the enemy's line ran and up picked it up and hit me right in the face with it (i guess he choose me because i was closest one to the iron rod and if he had gone to hit someone else i would have knocked him down). i still have a scar on my nose and somewhere between my temple and eye socket's bone. thank god my eye is ok.
 
  • #12
My Biggest Mistake?:

"Never look back in anger" I don't regret anything
 
  • #13
Being born.
 
  • #14
I have one word for that guy...seppuku.
 
  • #15
FredGarvin said:
I have one word for that guy...seppuku.
It's pretty good with soy sauce, but what the hell has it got to do with this? :confused:
 
  • #16
My biggest mistake? erm...

erm..., that's a hard one. Quite a lot to choose from.

I guess I just haven't lived long enough to get something that stupid. Or maybe I'm just perfect.
 
  • #17
Jonny_trigonometry said:
my biggest mistake? hmm.. well that's got to be supplementing drugs for a woman in my life for the past 4 years since my last girlfriend. I got more and more depressed and unconfident, and kept deluding myself with wild drug use that whole time. I've spent this year recovering, trying to gain back a sense of comfortability with being me and I've been gaining confidence. I've turned things around this year, I stopped doing most of the drugs (i drink occasionally, smoke pot about once a month but that's it), I got accepted at the institute of technology in upper division, and I'm persuing a physics degree w/emphesis in Aeronautical eng. with a math minor! It's sad I know, and hard to admit... but oh well, there it is. Can anyone top that?

Ditto, that my story too.

Only the time scales differ and the trigger. 6 years of abuse, and to date 2.5 years recovery. Still drink don`t take any drugs. Doing a physics degree focused on cosmology and particle physics.

Glade to know that i`m not the only person here who`s screwed up big time in the past with narcotics.

Good luck with your degree and sorting your life out.
 
  • #18
___ said:
my biggest mistake:
i was in a gang fight, had an iron rod after seeing that my team had won (we were 8 guys and they were more than 16), i put my iron rod on the ground and smiled, but out of nowhere a guy form the enemy's line ran and up picked it up and hit me right in the face with it (i guess he choose me because i was closest one to the iron rod and if he had gone to hit someone else i would have knocked him down). i still have a scar on my nose and somewhere between my temple and eye socket's bone. thank god my eye is ok.

If that's actually true and you do that sort of stuff then you are just one sad person who deserved it, but then again you could be joking?
 
  • #19
My bigest mistake:
Not paying atteion in math
 
  • #20
scott1 said:
My bigest mistake:
Not paying atteion in math

This so reminds me of
http://www.zone38.net/phs/archives/periodicals/arithetic.jpg [Broken]

If you don't know why it reminds me of this, don't ask
 
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  • #21
scott1 said:
My bigest mistake:
Not paying atteion in math
Who was atteion? Was he the guy who sold answers to the test?

My biggest mistake was cleaning a house I was moving out of. I cleaned the grout with some miracle tile and grout cleaner at the same time I was cleaning the tub with chlorine-added Comet, closed the bathroom door, and went out on the porch to take a break. Only then, sitting on the porch, did I read the warning label on the miracle tile and grout cleaner - it should never come into contact with chlorine products or a toxic chlorine gas might be produced!

Between that and the numerous other chemicals I used, I was having trouble thinking straight. I wound up clogging up the bathtub with dirty water from cleaning (the other bathroom, not the one containing deadly gases) . The Drano didn't work, so I tried using a plunger to unplug the drain. Drat! :grumpy: It's hard to plunge the bathtub drain when it also has an overflow drain. I had to remove the cover from the overflow drain and stuff up the hole with a rag. The plunger worked great - you got that familiar sucking sound - except the rag had suddenly disappeared! Doh!

I wound up putting the cover back on the overflow drain, bailing the water out of the tub with a cup, and sponging the tub dry. Looked great for the inspection! :biggrin: I'm glad I was safely out of town the next time the bathtub was used. :redface:

Edit: Thinking about moving out reminds me of the first apartment my wife and I moved out of. It only had three rooms, so moving, repainting, and cleaning was a snap. Carrying the paint and cleaning supplies from the third floor down the open stairway in the back of the apartment, on the other hand ...

Dropped a can of white paint down the red stairs next to the red brick from the third floor. I was able to clean most of the paint off - there was just a few, well, several traces of paint on the back of the apartment building. Looked kind of artistic - kind of like pale white fluffy clouds. Fortunately, the landlord used the front stairs when he inspected the apartment.
 
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  • #22
BobG said:
I wound up putting the cover back on the overflow drain, bailing the water out of the tub with a cup, and sponging the tub dry. Looked great for the inspection! :biggrin: I'm glad I was safely out of town the next time the bathtub was used. :redface:
Note to self - never use BobG's housecleaning service.
 
  • #23
My biggest mistake...well that's easy. But I'm not telling. Some of you prolly already know anyway.
 

1. What is your biggest mistake?

My biggest mistake was not properly double-checking the results of my experiment before publishing them.

2. How did your mistake impact your research?

Unfortunately, my mistake led to inaccurate data being published and caused delays in the progress of my research.

3. What steps did you take to rectify your mistake?

As soon as I realized my mistake, I immediately contacted my colleagues and retraced my steps to identify the error. I then repeated the experiment and published the corrected results.

4. How did you handle the aftermath of your mistake?

I took full responsibility for my mistake and communicated openly with my team and superiors. I also made sure to implement stricter protocols for double-checking data in the future.

5. What did you learn from your mistake?

I learned the importance of being thorough and meticulous in all aspects of scientific research. I also learned the value of owning up to my mistakes and taking necessary steps to correct them in a timely and transparent manner.

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